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European Commission adopts EU's first ‘Partnership Agreement’

05/05/2014 European Commission adopts EU's first ‘Partnership Agreement’

The European Commission has adopted the first of 28 "Partnership Agreements" that set down the strategies in EU member states and regions for European Structural and Investment Funds.

Today’s agreement was signed with Denmark and will pave the way for €553 million (current prices) in total Cohesion Policy funding.

The EU investments will boost competitiveness, tackle unemployment and growth through support to innovation, the low carbon economy and training and education. They will also promote entrepreneurship, fight social exclusion and strive for an environmentally friendly and resource-efficient economy.

Denmark has decided to dedicate 50% of the Cohesion Policy Funding under the growth and jobs objective of the European Social Fund (ESF), so as to ensure ESF-funded actions can have a significant impact towards meeting the EU2020 employment and poverty targets.

The ESF will help to maximise the growth potential of each region by addressing its specific needs, focusing on entrepreneurship and job creation, cross-border mobility, inclusion through education and employment and vocational training and higher education.

All 28 draft Partnership Agreements have now been received by the Commission. Their adoption should follow within the next 3 months, after a process of consultation with the Commission providing observations are taken on board.

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